Trump's latest tariffs target virtually all countries and could shift the landscape of international trade as talks with global leaders unfold.
Trump Unleashes New Tariffs on Global Trade
Trump Unleashes New Tariffs on Global Trade
President's move could spell trouble for major trading partners
On Wednesday, in a significant escalation of trade tensions, President Trump directed his advisers to devise new “reciprocal” tariffs set to impact nearly every nation across the globe. Among the countries likely to be most affected are India, Japan, and members of the European Union. These tariffs, anticipated to take effect on or after April 2, are intended to counterbalance tariffs imposed on U.S. goods and address perceived unfair trade practices including various taxes and industry subsidies that Trump claims are detrimental to American manufacturing.
Trump publicly declared his intentions during an Oval Office meeting, stating, “If you build here, you’ll have no tariffs whatsoever.” His announcement coincided with ongoing discussions with Indian Prime Minister Narendra Modi, whose government has implemented higher tariffs on U.S. imports—something Trump is keen to address during their meeting. This live reporting will cover the ensuing news conference between the two leaders.
The implications of Trump’s directive are vast, with experts pointing out that it may lead to what some are calling a “full-scale trade war” against nearly all significant U.S. trading partners. "These tariff proposals amount to a declaration of an all-out trade war against practically all major U.S. trading partners,” commented Eswar Prasad, a trade policy expert at Cornell University.
Contextually, trade policy under past administrations has typically relied on negotiations through international platforms like the World Trade Organization. In stark contrast, Trump seems inclined to dismantle this framework, opting for a strategy driven solely by U.S. authorities and their criteria.
As Modi's visit proceeds, other contentious subjects like immigration are likely to emerge, particularly following a controversial U.S. military flight that recently returned migrants to India—a situation described by one individual as “torture.” Amid mounting tensions on multiple fronts, the dynamics of U.S.-India relations are under scrutiny.
Additional reports indicate that other nations, like Taiwan, are bracing themselves for the impacts of these prospective tariffs, reflecting an increasingly transactional dynamic between the U.S. and its allies. As Trump continues to assert his influence over various sectors including arts, education, and business, his administration's ongoing legal battles add further complexity to his political maneuvers.
With significant developments on the horizon, this ongoing situation will be tracked closely for updates as events unfold.
Trump publicly declared his intentions during an Oval Office meeting, stating, “If you build here, you’ll have no tariffs whatsoever.” His announcement coincided with ongoing discussions with Indian Prime Minister Narendra Modi, whose government has implemented higher tariffs on U.S. imports—something Trump is keen to address during their meeting. This live reporting will cover the ensuing news conference between the two leaders.
The implications of Trump’s directive are vast, with experts pointing out that it may lead to what some are calling a “full-scale trade war” against nearly all significant U.S. trading partners. "These tariff proposals amount to a declaration of an all-out trade war against practically all major U.S. trading partners,” commented Eswar Prasad, a trade policy expert at Cornell University.
Contextually, trade policy under past administrations has typically relied on negotiations through international platforms like the World Trade Organization. In stark contrast, Trump seems inclined to dismantle this framework, opting for a strategy driven solely by U.S. authorities and their criteria.
As Modi's visit proceeds, other contentious subjects like immigration are likely to emerge, particularly following a controversial U.S. military flight that recently returned migrants to India—a situation described by one individual as “torture.” Amid mounting tensions on multiple fronts, the dynamics of U.S.-India relations are under scrutiny.
Additional reports indicate that other nations, like Taiwan, are bracing themselves for the impacts of these prospective tariffs, reflecting an increasingly transactional dynamic between the U.S. and its allies. As Trump continues to assert his influence over various sectors including arts, education, and business, his administration's ongoing legal battles add further complexity to his political maneuvers.
With significant developments on the horizon, this ongoing situation will be tracked closely for updates as events unfold.
